Thor Energy Regulatory News (THR)

Mick Billing

+61 (8) 7324 1935

Thor Mining PLC

Executive Chairman

Ray Ridge

+61 (8) 7324 1935

Thor Mining PLC

CFO/Company

Secretary

Colin Aaronson/

Daniel Bush/

Richard Tonthat

+44 (0) 207 383 5100

Grant Thornton UK LLP

Nominated Adviser

Elliot Hance

 +44 (0) 207382 8300

Beaufort Securities Limited

Joint Broker

Nick Emerson

+44 (0) 1483 413 500

SI Capital Ltd

Joint Broker

Tim Blythe/ Camilla Horsfall

+44 (0) 207 138 3222

Blytheweigh

Financial PR

Name of entity

Thor Mining PLC

ABN

121 117 673

1

+Class of +securities issued or to be issued

(a) Ordinary shares / CDIs

(b) Ordinary shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

(a) Transfers of 846,482 to AIM listed shares on the AIM Market of the London Stock Exchange, from ASX listed CDI's, during the period 30 November 2017 to 5 December 2017.

(b) Issue of 8,472,381 Ordinary Shares as a result of options (termed warrants in the UK) being exercised.

The total number of securities, listed on both AIM and ASX, is now 583,588,251 as at 6 December 2017.

3

Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

This represents:

(a) Transfers between AIM listed shares on the AIM Market of the London Stock Exchange, and ASX listed CDI's.

(b) Issue of 8,472,381 Ordinary Shares as a result of the exercise of options.

4

Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

· the date from which they do

· the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

· the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

(a) Yes.

(b) Yes.

5

Issue price or consideration

(a) N/A

(b) 7,520,000 at an exercise price of £0.0125 per share and 952,381 at an exercise price of £0.009.

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

(a) N/A

(b) Issue of Shares as a result of options being exercised. Cash consideration received per above.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes

6b

The date the security holder resolution under rule 7.1A was passed

29 November 2017

6c

Number of +securities issued without security holder approval under rule 7.1

N/A

6d

Number of +securities issued with security holder approval under rule 7.1A

N/A

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

N/A

6f

Number of securities issued under an exception in rule 7.2

(a) N/A

(b) 8,472,381 Ordinary Shares as a result of the exercise of options.

6g

If securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the issue date and both values. Include the source of the VWAP calculation.

N/A

6h

If securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements.

N/A

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

Refer attached Annexure 1

7

Dates of entering +securities into uncertificated holdings or despatch of certificates

(a) Transfers 30 November 2017 to 5 December 2017

(b) 6 December 2017

Number

+Class

8

Number and +class of all +securities quoted on ASX (including the securities in section 2 if applicable)

 130,246,971

Ordinary Shares quoted by

ASX ("THR" as CDIs) as at 6 December 2017.

9

Number and +class of all +securities not quoted on ASX (including the securities in section 2 if applicable)

453,341,280

11,272,903

11,613,549

44,682,564

19,680,000

32,513,434

13,840,000

2,000,000

20,000,000

51,111,111

15,000,000

1,500,000

Ordinary Shares admitted to the AIM Market of the London Stock Exchange, as at 6 December 2017.

Unlisted Options:

0.9 pence unlisted warrants

 expiring 27 July 2018.

1.2 pence unlisted warrants expiring 2 November 2018

1.2 pence unlisted warrants expiring 29 November 2018

1.25 pence unlisted warrants expiring 1 December 2018.

1.25 pence unlisted warrants expiring 7 April 2019.

1.25 pence unlisted warrants expiring 11 April 2019.

1.8 pence unlisted warrants

 expiring 27 June 2019.

1.25 pence unlisted warrants expiring 26 July 2019.

1.8 pence unlisted warrants

 expiring 28 July 2019.

1.8 pence unlisted warrants

 expiring 31 March 2020.

1.8 pence unlisted warrants

 expiring 27 June 2020.

10

Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

No Policy

34

Type of securities

(tick one)

(a)

ü

Securities described in Part 1

(b)

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Tick to indicate you are providing the information or documents

35

If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders

36

If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories

1 - 1,000

1,001 - 5,000

5,001 - 10,000

10,001 - 100,000

100,001 and over

37

A copy of any trust deed for the additional +securities

38

Number of securities for which +quotation is sought

39

Class of +securities for which quotation is sought

40

Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

· the date from which they do

· the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

· the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

41

Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

Number

+Class

42

Number and +class of all +securities quoted on ASX (including the securities in clause 38)

Rule 7.1 - Issues exceeding 15% of capital

Step 1: Calculate "A", the base figure from which the placement capacity is calculated

Insert number of fully paid ordinary securities on issue 12 months before date of issue or agreement to issue

as at 5 December 2016 317,158,340

Add the following:

• Number of fully paid ordinary securities issued in that 12 month period under an exception in rule 7.2

• Number of fully paid ordinary securities issued in that 12 month period with shareholder approval

• Number of partly paid ordinary securities that became fully paid in that 12 month period

Note:

• Include only ordinary securities here - other classes of equity securities cannot be added

• Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed

• It may be useful to set out issues of securities on different dates as separate line items

Placement (27/1/17) 50,000,000

(approved 27 July 2017)

Issue - options exercised 1,780,026

(Issued 17/3/17)

Issue - options exercised 3,312,477

(Issued 20/3/17)

Issue - options exercised 762,365

(Issued 10/4/17)

Placement (28/7/17) 51,111,111

(approved 27 July 2017)

Placement (03/11/17) 29,473,686

(approved 29 November 2017)

Issue - options exercised 10,000,000

(Issued 10/11/17)

Issue - options exercised 20,730,855

(Issued 13/11/17)

Issue - options exercised 10,773,161

(Issued 15/11/17)

Issue - options exercised 20,749,484

(Issued 21/11/17)

Issue - options exercised 18,113,051

(Issued 29/11/17)

Placement (30/11/17) 41,151,314

(approved 29 November 2017)

Issue - options exercised 8,472,381

(Issued 6/12/17)

Subtract the number of fully paid ordinary securities cancelled during that 12 month period

0

"A"

583,588,251

Step 2: Calculate 15% of "A"

"B"

0.15

[Note: this value cannot be changed]

Multiply "A" by 0.15

87,538,237

Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used

Insert number of equity securities issued or agreed to be issued in that 12 month period not counting those issued:

• Under an exception in rule 7.2

• Under rule 7.1A

• With security holder approval under rule 7.1 or rule 7.4

Note:

• This applies to equity securities, unless specifically excluded - not just ordinary securities

• Include here (if applicable ) the securities the subject of the Appendix 3B to which this form is annexed

• It may be useful to set out issues of securities on different dates as separate line items

"C"

0

Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1

"A" x 0.15

Note: number must be same as shown in Step 2

87,538,237

Subtract "C"

Note: number must be same as shown in Step 3

0

Total ["A" x 0.15] - "C"

87,538,237

 [Note: this is the remaining placement capacity under rule 7.1]

Rule 7.1A - Additional placement capacity for eligible entities

Step 1: Calculate "A", the base figure from which the placement capacity is calculated

"A"

Note: number must be same as shown in Step 1 of Part 1

583,588,251

Step 2: Calculate 10% of "A"

"D"

0.10

Note: this value cannot be changed

Multiply "A" by 0.10

58,358,825

Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used

Insert number of equity securities issued or agreed to be issued in that 12 month period under rule 7.1A

Notes:

• This applies to equity securities - not just ordinary securities

• Include here - if applicable - the securities the subject of the Appendix 3B to which this form is annexed

• Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained

• It may be useful to set out issues of securities on different dates as separate line items

"E"

0

Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A

"A" x 0.10

Note: number must be same as shown in Step 2

58,358,825

Subtract "E"

Note: number must be same as shown in Step 3

0

Total ["A" x 0.10] - "E"

58,358,825

Note: this is the remaining placement capacity under rule 7.1A